Manipal Group Makes Strategic Move for Byju's Parent Company
In a significant development in the ongoing edtech saga, Dr Ranjan Pai-led Manipal Education and Medical Group India (MEMG India) has formally expressed interest in acquiring troubled education technology company Byju's parent entity, Think & Learn. The group submitted a formal Expression of Interest (EOI) to participate in the Corporate Insolvency Resolution Process (CIRP) on November 13, as confirmed through official exchange filings.
Details of the Expression of Interest
MEMG India has declared its intention to be included in Think & Learn's Prospective Resolution Applicants (PRAs) list, specifically requesting access to critical company documents to evaluate a potential resolution plan. This marks the second time that MEMG has submitted an EOI after the Resolution Professional extended the deadline for the process to November 13, 2025.
According to the filed documents, MEMG has requested comprehensive access to the Information Memorandum, Virtual Data Room, evaluation matrix, and other CIRP-related information. This access is crucial for assessing the feasibility of preparing and submitting a formal resolution plan for the embattled edtech company.
Insolvency Process and Next Steps
The Resolution Professional will now review MEMG's eligibility and issue a provisional list of PRAs, followed by a final list after verification and approval from the Committee of Creditors (CoC). The insolvency process for Think & Learn is currently before the National Company Law Tribunal (NCLT), with the RP responsible for evaluating resolution plans aimed at reviving or restructuring the company.
Notably, MEMG India appears to be the only applicant who has submitted an EOI for Think & Learn, though the submission does not guarantee shortlisting or approval for the next phase of the process.
Regulatory Compliance and Strategic Implications
MEMG's submission includes all statutory undertakings required under the Insolvency and Bankruptcy Code (IBC), 2016. The company has certified that it meets eligibility norms for PRAs and is not disqualified under Section 29A of the IBC. The filing also includes necessary affidavits, confidentiality commitments, and e-stamp executed documentation.
The statement from Manipal Group revealed that a successful resolution with Think & Learn would help in business consolidation of AAKASH, in which Manipal holds a majority shareholding. This strategic move could potentially reshape the competitive landscape of India's education sector.
